Hidroelectrica has completed an IPO
July 2023 — Hidroelectrica (H2O) has started trading on the Bucharest Stock Exchange following an IPO. The offer, which was held between 23 June and 4 July, 2023, ended successfully and became the largest initial public offering ever made on the Romanian stock market, with a value of approximately US$2.1 billion. The IPO was also the largest in Europe in 2023 and the third largest in the world.
Hidroelectrica is the leading electricity producer in Romania, a large hydro player in Europe and the main provider of ancillary services in Romania, playing an instrumental role in the security of the national energy system. The company also sells electricity on the wholesale and retail electricity markets. H2O is the only producer of electricity from a hydro source that operates dispatchable production units in Romania and one of the largest hydro players in Europe, generating 13.6 TWh of electricity from hydro sources in 2022. Hidroelectrica debuted on 12 July on BVB’s Regulated Market and is the largest Romanian company listed on the BVB in terms of market capitalization.
Our role in the transaction
Oaklins’ team in Romania acted as co-lead manager of the offering and advised the minority shareholder, Fondul Proprietatea, on the sale of its 19.94% stake in Hidroelectrica.
Talk to the deal team
Related deals
7BidCo has completed the sell-out procedure for the shares of STAR7
7BidCo S.p.A. has completed the sell-out procedure for 8.5% of STAR7 S.p.A.’s shares.
Learn moreAlba has completed a voluntary public tender offer for the shares of Borgosesia
Alba S.r.l. has completed a voluntary public tender offer for 100% of the shares of Borgosesia S.p.A.
Learn moreTA Associates has completed a sell-down of its stake in Eurowag
TA Associates has completed a US$40 million accelerated bookbuild (ABB), selling approximately 4.3% of its shareholding in W.A.G. payment solutions AS (Eurowag) through a secondary offering on the London Stock Exchange. The transaction formed part of the private equity sponsor’s continued partial exit following its investment in Eurowag in 2015. The offering attracted strong demand from international institutional and Czech investors, resulting in a successful placement at US$1.33 per share, a 7.4% discount to the previous close and a 2.2% discount to the one-month volume-weighted average price (VWAP).
Learn more